Grey Global Hires
Advisers, Explores
A Possible Sale

NEW YORK -- Grey Global Group Inc. has hired Goldman Sachs Group Inc. and J.P. Morgan Chase & Co. to explore strategic options, including a possible sale, according to people familiar with the matter.

The move suggests that Edward Meyer, Grey's 77-year-old chairman and chief executive, may be ready to end his reign over the tightly controlled company, which works for marketers including Procter & Gamble Co., GlaxoSmithKline PLC, Nokia Corp. and BellSouth Corp. As of Grey's July 31, 2003, proxy statement, Mr. Meyer...